LGO sold over 100,000 barrels of Goudron oil

LGO has now sold over 100,000 barrels of Goudron oil since taking over operations in October 2012.
Separately, development well GY-664 has now intersected over 1,000 feet of gross oil bearing sands having drilled a further estimated 720 feet of oil sands in the Gros Morne formation, the first of the primary targets of the well. GY-664 earlier drilled over 350 feet of oil bearing sands in the Goudron formation. Drilling is continuing in the Lower Cruse, which is the third reservoir target of the well.

Neil Ritson, LGO Chief Executive, commented,"A total of over 100,000 barrels of light high quality crude oil has now been sold to the Petrotrin owned Pointe-a-Pierre refinery in the last 18 months. An upward production trend is set to continue with the redevelopment of the field now underway.

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